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is that if the threshold goes up to that level, the top income tax rate would go all the way back up to the clinton era rate of 39.6%. not some mid point of 37% talked about a couple of weeks ago. secondly, that it would be accompanied by more revenue from the estate tax than is happening under current policy. remember, current policy is 35% tax on estates of $35 million or more. democrats are going to be insisting on somewhat more revenue than that, if not all the way up to the level in president obama's budget. finally, that an agreement would include a significant extension of unemployment benefits. remember, there are 2 million people who would lose about $300 a week if this fiscal cliff passes and there's no deal whatsoever. guys, back to you in d.c. >> all right. john harward, thanks for keeping us posted. we're about six minutes before the bell rings in the final session of 2012. let's bring in matt. good to have you with us. the futures are not too bad. we're coming off five straight losing streaks. on friday we saw the vix post the low of the session. what do you think it will happen today? >>
to the clinton era rate of 39.6% on incomes of $400,000 for individuals, $450,000 for married couples. on the estate tax, the inheritance tax, you see that going from 35% to 40% on estates of $5 million. although the value of that exemption is indexed for inflation. you see on capital gains and dividends the rate going from 15% to 20% on those top earners. now, secondly, you see a round of other changes, you see on the doc fix for medicare. you prevent the decline in medicare payments to medicare providers. you extend unemployment benefits for a year. you see that the payroll tax does not continue. that is going to be a tax increase for average families. those are some of the details that we've got on this bill. but it does not deal with the debt ceiling. it does not put off the sequester indefinitely. the -- it's only for two months we put off the sequester. so we're going to have to see how that is resolved. the alternative minimum tax was also permanently fixed. that's very expensive, because it protects tens of millions of families from having their incomes go up because they woul
rates revert to where they were in the clinton years and remember that only affects half of the taxpayers in the country because only half of the people pay income tax so it's not 97%. it's actually only the top half. and that may not be so -- such a bad consequence from his point of view. it also brings in a significant amount of revenue, which allows him to spend in the way that i think he'd like to do, so it could take a good bit of pressure off of him and, you know, i'm just concerned that he may not feel the same pressure to keep taxes low as the rest of us do. he probably is not a believer that high tax rates would impede the economy at least not to the same extent that i believe that. >> yeah. finally, you know, a lot of the bulls who are encouraging investors to get into the market over the next 12 months say that cap x would come back even with a band-aid, that companies with all their cash and their refinancings have money to spend and that they will spend it in the new year. are you seeing any empirical evidence that suggests that is actually so? >> well, i'm n
Search Results 0 to 2 of about 3